A 61-year-old with a stressful job is contemplating retirement, with $956,000 in a 401(k) and $190,000 in stocks. She’s considering moving to be closer to family, with $450,000 in home equity and a mortgage that will be paid off in 4 years.

After weighing financial concerns and health issues, the retiree is advised to seek support for retirement planning, health, and stress management. With a 401(k) and stocks totaling $1.15 million, she could potentially save more by working a few more years.

Delaying Social Security can boost benefits, with a maximum possible monthly benefit of $5,108 for those who wait until 70 to claim. Moving closer to family could provide emotional support and save on housing costs, improving the retiree’s financial outlook.

Careful financial planning is crucial, as unforeseen expenses or market fluctuations could impact retirement savings. Seeking advice from financial advisors, physicians, and therapists can help navigate the transition to retirement successfully.

Ultimately, the retiree is encouraged to make a well-informed decision about retirement, considering all aspects of her financial, physical, and mental well-being. With over $1 million saved, she is advised to plan carefully to ensure a comfortable retirement.

Read more at Yahoo Finance: I’m 61, earn $177K, and have a 401(k) with $965K. Do I retire and downsize?